Svalbard Economy 1996

Overview:

Coal mining is the major economic activity on Svalbard. By treaty (9 February 1920), the nationals of the treaty powers have equal rights to exploit mineral deposits, subject to Norwegian regulation. Although US, UK, Dutch, and Swedish coal companies have mined in the past, the only companies still mining are Norwegian and Russian. The settlements on Svalbard are essentially company towns. The Norwegian state-owned coal company employs nearly 60% of the Norwegian population on the island, runs many of the local services, and provides most of the local infrastructure. There is also some trapping of seal, polar bear, fox, and walrus.

Budget:

revenues:

$13.3 million

expenditures:

$13.3 million, including capital expenditures of $NA (1990 est.)

Electricity:

capacity:

21,000 kW

production:

45 million kWh

consumption per capita:

13,860 kWh (1992)

Currency:

1 Norwegian krone (NKr) = 100 oere

Exchange rates:

Norwegian kroner (NKr) per US$1 - 6.7014 (January 1995), 7.0469 (1994), 7.0941 (1993), 6.2145 (1992), 6.4829 (1991), 6.2597 (1990)

Thank you for making this an award winning site

Please put this page in your BOOKMARKS - - - - -

ITA Home Page	The IMMIGRATION Superhighway	Feedback
ITA WWWDesign	Flags of all Countries	Yahoo search

Revised 13-August-1997